Crude oil prices pared back sharp overnight gains in mid-morning trade in Asia Nov. 10 as concerns over weak near-term demand fundamentals weighed on the rally spurred by the announcement of progress in the development of a vaccine. Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 10.40 am Singapore time (0240 GMT), ICE Brent January crude futures were down 46 cents/b (1.08%) from the Nov. 9 settle at $41.94/b, while the NYMEX December light sweet crude contract was down 55 cents/b (1.37%) at $39.74/b. The markers had surged 7.48% and 8.48% Nov. 9 after Pfizer and BioNTech announced their COVID-19 vaccine had proven more than 90% effective in a phase 3 trial, but subsequently lost steam as more immediate concerns over the progression of the pandemic took precedence. This came after New York City mayor Bill DeBlasio DeBlasio warned the […]